The Money Shop, Silver Street, Lincoln

It is well known that students are prone to suffer from debt throughout their university life, especially during the festive season when there is pressure to buy gifts, food and decorations.

The Money Shop, Silver Street, Lincoln
Short-term lending, more commonly known as “payday loans”, often lead people into debt as they spend more at Christmastime (Photo: Gregor Smith)

With advent calendars and other Christmas accessories now in the shops, students could benefit from a new campaign launched by Lincoln Against Poverty, which aims to help people avoid making disastrous financial decisions in the run-up to Christmas.

The “Say No To High Cost Borrowing” scheme will be running throughout the festive period to discourage people from taking out loans they cannot afford.

Instead, the City of Lincoln Council and the Lincolnshire Credit Union, alongside other a wide range of other local companies, will aid those who need help with budgeting and information on sources of finance.

Linda Burden, from Lincolnshire Credit Union gave these tips: “Stick to a few simple rules: plan ahead and don’t overspend. Don’t get stressed out in a last-minute present-buying frenzy. Decide on a budget and stick to it.

“Don’t go overdrawn without telling your bank in advance. You can be penalized quite heavily and this is a very expensive way to access credit.”

If you think you will struggle with buying gifts for family and friends this Christmas, you can contact Lincolnshire Credit Union for information on how to help yourself stay debt-free by phoning 01522 873 550 or visiting